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Minutes March 2013

The Corporate, Banking & Securities Law Section Council met this date via conference call. Participating members included Jennifer C. Blumenthal, Sharon C. Bramlett, M. Edwin Hinds, Jr., John Jennings, Stuart M. Lee, George E. Morrison, Bo Russell and Walker H. Willcox. Representing Bar staff was Tara G. Caine.

Chairperson Hinds called the meeting to order.

The first item of business was approval of the minutes from the August 29, 2012, meeting. Ms. Bramlett moved approval of the minutes. Ms. Blumenthal seconded the motion, and it was approved.

The next item of business was discussion on the Bar Convention. Mr. Hinds noted that he had received positive feedback from attendees. He thanked members who had participated. Ms. Caine distributed a copy of the evaluation summaries to the Council for review. Mr. Hinds announced that the 2014 Convention was scheduled for January 23rd – 26th, at the Kiawah Island Golf Resort. He welcomed a volunteer to serve as the course planner. After discussion, Mr. Jennings agreed to coordinate the seminar.

Next was discussion on the FY2013-2014 Council nominations. Ms. Caine stated that the Secretary position and two general Council member seats were vacant. She had received only two inquiries. She welcomed additional recommendations from the Council. After discussion, Mr. Willcox moved that Stuart M. Lee serve as the Secretary and Hal E. Cobb fill the general Council member seat, term expiring in 2016. Mr. Morrison seconded the motion, and it was approved. Ms. Caine was to inform the nominees of the Council’s decision. Ms. Blumenthal recommended that A.M.”Gus” Dixon fill the remaining vacancy. Mr. Jennings was to verify Mr. Dixon’s interest and report his findings to Ms. Caine.

Next was discussion on legislative issues related to the Section. Ms. Blumenthal announced that the proposed amendments to articles 1, 7 & 9 of the UCC were presented to the Judiciary Committee in January. She noted that the committee was still awaiting the U.S. Supreme Court’s decision regarding the Matrix & Coffey Cases. Mr. Morrison provided an update on the Uniform LLC Act. He noted that the bills were pending and had been submitted to the Judiciary Committee. The Council expressed its concern stating that the bill needed clarification and asked that the Bar monitor. Mr. Russell was to obtain additional information from Bruce Bannister and report his findings to the Council. 

In closing, Ms. Blumenthal provided an update from the Section’s Legal Opinion Ad Hoc Committee. She stated that the exposure draft of the report was distributed through the Section listserv, posted on the Bar website and was included in E-Blast. The deadline to submit comments was April 30th.

There being no further business, the meeting was adjourned.